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Demand for consumer loans in Russia : how strong is the interest rate channel of monetary policy?

Sinyakov, Andrey A.; Shelovanova, Tatyana I. - In: Russian journal of economics 11 (2025) 1, pp. 47-75

The booming retail trade and the above-target consumer prices inflation in 2023-2024 in Russia, amid tightening … Russia. Actual loan applications cover the period of 2020-2022, and the survey also includes information on households … microeconomic perspective. This suggests that the Bank of Russia, in relying on this channel for this type of credit, might have to …

Persistent link: https://www.econbiz.de/10015396375

The cash-flow channel of monetary policy : evidence from billions of transactions

Ahn, SeHyoun; Galaasen, Sigurd Mølster; Mæhlum, Mathis - 2024

We present novel findings on the impact of monetary policy on consumer spending behavior using a newly assembled high-frequency household expenditure panel. Leveraging comprehensive weekly electronic transaction-level data for all individuals in Norway over 13 years, our study sheds light on the...

Persistent link: https://www.econbiz.de/10015324129

Elasticity of intertemporal substitution in the euro area

Marenčák, Michal; Giang Hong Nghiem - 2024

This paper estimates the elasticity of intertemporal substitution for the euro area. It leverages the unique design of the Consumer Expectations Survey in Europe to directly infer it from the Euler equation. Our final estimates range between 0.7 and 0.8 for the euro area as a whole, which are...

Persistent link: https://www.econbiz.de/10015152737

Consumption and Portfolio Rebalancing Response of Households to Monetary Policy : Evidence of the HANK Channel

Agarwal, Sumit - 2020

This paper tests one specific monetary transmission mechanism through households: portfolio rebalancing. We use a unique panel dataset of household's credit and debit card spending, ATM withdrawals, financial investments into risky assets such as mutual funds and equities, as well as bank...

Persistent link: https://www.econbiz.de/10012835832

The intertemporal marginal propensity to consume out of future persistent cash-flows : evidence from transaction data

Druedahl, Jeppe; Jensen, Emil Bjerre; Leth-Petersen, Søren - 2022

To analyze the effectiveness of stabilization policies which includes effects on households future income it is central to account for anticipation effects on consumption. We investigate this using high-frequency spending and balance sheet data from a major Danish bank. We examine the behavior...

Persistent link: https://www.econbiz.de/10013361501

Financial reforms and money demand : evidence from 20 developing countries

Kumar, Saten - In: Economic systems 35 (2011) 3, pp. 323-334

Persistent link: https://www.econbiz.de/10009307447

Three essays in economics

Willard, Luke - 2006

Persistent link: https://www.econbiz.de/10009272799

How do mortgage rate resets affect consumer spending and debt repayment? Evidence from Canadian consumers

Kartashova, Katya; Zhou, Xiaoqing - 2020

We study the causal effect of mortgage rate changes on consumer spending, debt repayment, and defaults during an expansionary and a contractionary monetary policy episode in Canada. Our identification takes advantage of the fact that the interest rates of short-term fixed-rate mortgages (the...

Persistent link: https://www.econbiz.de/10012619568

How Do Austrians Pay for Online Purchases?

Stix, Helmut; Wagner, Karin - In: Monetary Policy & the Economy (2006) 3, pp. 45-90

The Internet has become an integral part of everyday life for many people: More than 60% of Austrians have access to the World Wide Web at their workplace or at home. The rapidly growing possibilities to access and use the Internet have also given rise to new forms of payment specifically...

Persistent link: https://www.econbiz.de/10005627550

Central Bank Communication with the General Public : Promise or False Hope?

Blinder, Alan S.; Ehrmann, Michael; Haan, Jakob de; … - 2022

Central banks are increasingly reaching out to the general public to motivate and explain their monetary policy actions. One major aim of this outreach is to guide inflation expectations; another is to ensure accountability and create trust. This article surveys a rapidly-growing literature on...

Persistent link: https://www.econbiz.de/10014079351